Donald Trump’s inauguration speech did not mention any form of cryptocurrency, including Bitcoin. This goes against the pro-crypto rhetoric he used during his campaign. The absence of verbal stimulus caused volatility in the market as Bitcoin’s prices dropped to a low of $101,000 after initially climbing.
At the time of writing, Bitcoin price was down about 4%, leaving the market uncertain about Trump’s crypto policy direction. Analysts are now speculating on what his administration could mean for digital assets.
Donald Trump’s Speech and Crypto Expectations
Donald Trump’s inauguration speech centered on themes like economic revival, national security, and technological innovation. However, his silence on Bitcoin or broader cryptocurrency policies surprised the crypto market, given his previous endorsement of digital assets during the campaign.
Many expected Trump to address crypto regulations or initiatives promoting blockchain technology. His campaign speeches hinted at embracing digital assets to modernize the financial system. Yet, his inaugural address steered clear of specific references to Bitcoin or any related policy, leaving the crypto community in suspense.
This lack of clarity has created uncertainty among investors. Market participants hoped for bold crypto-friendly announcements but now speculate whether Trump’s pro-crypto stance will materialize through executive orders or policy actions later in his administration.
Key Themes from Donald Trump’s Speech
Donald Trump emphasized his commitment to economic growth, infrastructure investment, and making America a global leader in innovation. While his vision seemed aligned with fostering technological advancements, his failure to mention digital currencies created mixed reactions.
However, David Bailey, CEO of Bitcoin Magazine, hinted on X that executive orders related to Bitcoin or cryptocurrency might be among Trump’s initial 200 actions, fueling optimism in the market. He said that he “got confirmation” for the same but it remains unclear what the executive orders will be related to.
Some see Trump’s broader themes as indirectly supportive of crypto, particularly his focus on empowering tech industries and modernizing systems. Moreover, Binance founder Changpeng Zhao (CZ) urged patience stating, in response to rising expectations for immediate policy changes. In a recent X post, CZ stated:
“Everyone expects everything to happen in one day. Good things take time.”
Bitcoin Price Volatility and Current Trends
Bitcoin experienced heightened volatility following Donald Trump’s speech, reflecting market sensitivity to political developments. After briefly peaking at $108,651, Bitcoin price today fell to $103,601, down 4.5% over the last 24 hours.
Its trading volume stood at $105 billion, a 4% decline from the previous day. Despite the short-term dip, the world’s largest cryptocurrency has shown remarkable resilience, up 7% in the past month and a staggering 55% over the last quarter. Its market cap currently stands at $2.05 trillion.
Altcoins also faced significant pressure, with most crashing 5-10% as Trump skipped any mention of cryptocurrencies during his speech. The lack of direct policy signals has left investors cautious, but BTC’s long-term growth trajectory remains strong. Market participants are now closely monitoring future announcements for any hints about the administration’s approach to cryptocurrency.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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